LVMH appoints new Chairman and CEO of beauty division
LVMH has named Stéphane Rinderknech as Chairman and CEO of its Perfumes and Cosmetics division.
Rinderknech joined LVMH in 2022 and has been leading the group's Hospitality Excellence division, which includes Hôtels Cheval Blanc and Belmond Hotels and Trains. Since January 2023, he has also been a member of the Executive Committee of LVMH.
Bernard Arnault, Chairman and CEO of LVMH, said: "Stéphane has since his arrival guided the rebound of our hotel activities with considerable strategic agility, driving tremendous momentum across the entire organisation."
Rinderknech began his career in 2001 at L’Oréal, where he held various positions of increasing responsibility. Most recently, he served as President North America Zone and CEO of L’Oréal USA from 2019 to 2022. In this role, he drove "digital transformation and the affirmation of the company’s values of diversity and inclusion".
In his new role, Rinderknech will oversee the group's beauty businesses, which includes Parfums Christian Dior, Guerlain, Maison Francis Kurkdjian, Fenty Beauty and 11 other brands. He will also continue to manage the Hospitality Excellence division.
Reporting to Rinderknech are new appointments Véronique Courtois, who will lead Parfums Christian Dior, and Gabrielle Saint-Genis Rodriguez, who now heads Guerlain, according to WWD.
The appointments follow LVMH's recent revenue growth of 23% to £69.5 billion (€79.1 billion) for 2022, with a "record performance" from Sephora boosting overall sales.
The company's Selective Retailing division saw revenue increase 26% to £13 billion (€14.8 billion), driven by a "remarkable rebound" from Sephora. This follows the relaunch of Sephora in the UK in October 2022.
Sephora is due to open its first UK location tomorrow, 8 March.